Procurement
Contributors
Even for City lawyers used to increasingly heavy-handed tactics in panel reviews from banking groups, it proved something of a shock. News earlier this year that Deutsche Bank had notified pitching firms of its unwillingness to pay for trainees and newly-qualified lawyers during its last adviser review sent a jolt through the UK legal market. The practice of writing off the time of junior lawyers has been common for years in the US, reflecting in part higher relative salaries, charge-out rates and a propensity to clock up more tangential work as billable hours stateside.
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